Employee experience platform has raised $12 million in Series A funding led by Jungle Ventures and Tiger Global. Existing investors Bling Capital also participated in this round of funding.
Other investors to join the round include top CHROs and founders like Bhavin Turakhia (Founder of Zeta), Sreedhar Peddineni, Co-founder Gainsight, Suman Gopalan, CHRO Freshworks, and Ankur Warikoo.
With this funding, inFeedo aims to triple its product line, double its team, and accelerate growth in Southeast Asia, the US, and India in the next few years. The startup is currently hiring for over 140 remote roles across all functions, especially marketing, product, engineering, and sales in these regions.
Commenting on the announcement, Tanmaya Jain, Founder and CEO of inFeedo, said, “There’s never been a more critical time to put people at the heart of your business. This milestone isn’t about our Series A, it’s about our A game. It’s about surrounding ourselves with A players who share a vision of helping companies build a culture where people love to come to work. It’s about conversational AI and people science teams coming together to build meaningful employee experiences.”
This brings the total capital raised since inception to $16 million. The company has stated that its valuation has now tripled and scheduled its second ESOP buyback for all employees as an opportunity for wealth generation, amongst other benefits.
Founded in 2016 by Tanmaya Jain and Varun Puri, US-headquartered inFeedo is an all-in-one employee experience platform with people analytics that help predict attrition, burnout and disengagement in top talent. Their proprietary AI bot called Amber acts as a Chief Listening Officer to the CEO, has intelligent conversations with employees to find hidden gaps in their culture, managers and wellbeing in real time.
John Curtius, Partner at Tiger Global added, “We are excited to partner with Tanmaya and the inFeedo team. We believe they will be a leader in the employee listening market.”
Currently in Southeast Asia, inFeedo has clients like JD.ID, Tiket, Mediacom, Sunlife, BukuWarung and Aboitiz. Amber speaks to 30,000 employees in Singapore, Malaysia, Indonesia and the Philippines. Going forward, the brand plans to continue its rapid growth in the region and accelerate the go-to-market in North America.
The startup currently serves over 175+ people-first enterprises in more than 60 countries, with Amber having over 1.3 million conversations in the last year alone. Its customers include MNCs like Samsung, Xiaomi and Lenovo, conglomerates like TATA, Godrej and Bharti and unicorns like Unacademy, Paytm and OYO.
Backed by conversational AI and six years of people science research, inFeedo has helped customers retain up to 85 percent of their top talent at flight risk and achieve metrics as high as an 87 eNPS.
Arpit Beri, Principal at Jungle Ventures added, “The relationship between employees and companies is changing radically, forcing leaders to rethink their approach to their most precious resource: talent. The kind of encouraging on-ground feedback we received from all stakeholders, be it the customers, the competitors or even the ex-employees makes us extremely excited to partner with inFeedo, as they set out to redefine employee engagement for global enterprises.”
Earlier in 2020, inFeedo had raised from Y Combinator, Girish Mathrubootham (CEO, Freshworks), Peyush Bansal (CEO, Lenskart), and Ritesh Malik (Founder, innov8).
Edited by Kanishk Singh